The Federal Deposit Insurance Corp. introduced the sale of an $18.5 billion loan portfolio from Signature Bank today, a swimming pool of financial obligation connected to significant personal equity and investing companies.
The portfolio is comprised of 201 carrying out capital-call loans connected to companies consisting of Starwood Capital Group, Carlyle Group, Blackstone, Thoma Bravo and Brookfield Asset Management, according to an individual acquainted with the matter who asked not to be recognized mentioning personal details.
The loans for sale “consist of subscription credit facilities to private equity funds,” according to a notification from the FDIC. The FDIC decreased to comment. An agent for Newmark didn’t instantly return a message looking for remark.
The sale, which introduced July 25, is restricted to FDIC-insured depository organizations, according to the FDIC’s notification. The due date for a quote remains in September, with closing set for early October. Newmark Group is managing the sale.
The sale of this financial obligation is the most current stage of the FDIC’s offloading of about $60 billion of Signature Bank loans. The loans have actually remained in FDIC receivership given that previously this year, when Signature Bank collapsed in the middle of local bank chaos.
Newmark is still dealing with preparing a sale of Signature’s industrial realty loans, although timing stays uncertain, the individual stated.
— With help from John Gittelsohn and Patrick Clark